ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0022%/8h= +2.4% APRnext payment +$0.03 per $10,000 · paid last 24h +0.030%

Price spread now: Kraken Futures against Bullet−0.052%51s7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.222% of the position

Long on Bullet Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now −0.052%, 7d avg +0.015%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.067% cheaper against Bullet than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.015%). If the spread goes back, that is −$7 on $10k: about 10 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.051% in total) that is about 4.7 days. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet ETH-USD	2,725	0.0083	pay 0.0010% / 1h	25m 26s	$176K	$1.7M	20x
Short	Kraken Futures PF_ETHUSD	2,723.6	0.0105	get 0.0013% / 1h	25m 26s	$81.8M	$307.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bullet. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BulletbpFee Kraken FuturesbpOrdersPrice spread, now −0.052%Rate

Funding earned: $4.64
Price spread: −0.052% → +0.015%: −$6.71
Slippage, 4 orders: −$4.2
Fee Bullet: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$24.28
Costs to cover: 0.222%
Break-even: 43.7 days

Slippage from Bullet: live order book, 4 min ago; Kraken Futures: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bullet live order book, 4 min ago	0.37 bp	5.6 bp −$6	8.6 bp −$86	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	0.18 bp	5.6 bp −$6	6.3 bp −$63	8.4 bp −$839	11.9 bp −$5,944

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ETH-USDT	−0.0152%	8h	2,724.5	−0.019%	$281.3M	$176.4M	150x	as long as short
HTX ETH-USDT	−0.0126%	8h	2,722.5	−0.093%	$1.04B	$1.20B	200x	as long as short
Perpl ETH	−0.0112%	43m	2,723.3	−0.062%	$275K	$5.7M	8.3x	as long as short
SunX ETH-USDT	−0.0094%	8h	2,722.7	−0.085%	$939K	$10.5M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,725.3	+0.011%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0066%	8h	2,724.7	−0.013%	$2.31B	$4.24B	150x	as long as short
ApeX Omni ETHUSDT	−0.0015%	1h	2,724.3	−0.027%	$8.3M	$31.0M	100x	as long as short
Phoenix ETH	−0.0012%	1h	2,724.7	−0.011%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,725.5	+0.017%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,725.2	+0.007%	$10.6M	$41.8M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXETHPERP	0.0000%	8h	2,724.7	−0.011%	$6.4M	$668.9M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,726.6	+0.057%	$266.0M	$220.2M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,725.5	+0.019%	$32.9M	—	200x	as long as short
Hibachi ETH/USDT-P	+0.0024%	1h	2,725.3	+0.012%	$236K	$1.4M	20x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,726.5	+0.055%	$195K	$885K	50x	as long as short
Gate ETH_USDT	+0.0039%	8h	2,725.2	+0.009%	$3.28B	$8.30B	200x	as long as short
SoDEX ETH-USD	+0.0039%	1h	2,722.6	−0.088%	$54.2M	$182.4M	40x	as long as short
Aster ETHUSDT	+0.0065%	8h	2,724.8	−0.009%	$252.1M	$837.5M	200x	as long as short
Aevo ETH-PERP	+0.0072%	1h	2,724.6	−0.016%	$4.9M	$195K	20x	as long as short
MEXC ETH_USDT	+0.0075%	8h	2,725	−0.001%	$1.59B	$2.57B	500x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,724.9	−0.002%	$1.65B	$10.48B	100x	as long as short
Binance ETHUSDT	+0.0076%	8h	2,725.1	+0.004%	$6.30B	$15.85B	150x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,726	+0.036%	$382.4M	$560.7M	100x	as long as short
Bullet ETH-USDlong	+0.0083%	1h	2,725	long leg	$176K	$1.7M	20x
Phemex ETHUSDT	+0.0095%	8h	2,722.7	−0.085%	$262.2M	$63.1M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,725.9	+0.034%	$112.4M	$402.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,727	+0.072%	$23.6M	$96.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,725.8	+0.031%	—	$30.3M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,725.9	+0.033%	$497K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,728.5	+0.128%	$15.3M	$7.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,725.1	+0.002%	$14.3M	$100.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,727.4	+0.088%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.3	+0.049%	$31.9M	$331.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.1	+0.040%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,725.7	+0.024%	$1.6M	$15.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,720.7	−0.159%	$164.6M	$337.2M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,725.6	+0.022%	$2.11B	$2.68B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,724.9	−0.002%	—	$1.04B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,722.6	−0.089%	$15.1M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.3	−0.100%	$131.5M	$313.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,723	−0.073%	$185.3M	$682.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,724.4	−0.021%	$158.4M	$80.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.3	−0.026%	$20.9M	$71.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727	+0.073%	—	$436K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,724	−0.037%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.3	−0.025%	$40.5M	$29.1M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725.1	+0.003%	$30.2M	$70.6M	50x	as long as short
Kraken Futures PF_ETHUSDshort	+0.0105%	1h	2,723.6	−0.052%	$81.8M	$307.8M	100x
Aftermath Perps ETHUSD	+0.0108%	1h	2,725.9	+0.032%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,724.2	−0.030%	$45.7M	$4.19B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,726.8	+0.067%	$5.6M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0171%	1h	2,724.3	−0.024%	$7.3M	$961K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0182%	8h	2,727.3	+0.086%	$32.2M	$10.8M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,726.6	+0.059%	$117K	$21.9M	52x	as long as short
Bluefin ETH-PERP	+0.1273%	1h	2,725.6	+0.023%	$20K	$23K	25x	as long as short